AsiaOperations

European Commission suspends HHI’s DSME merger screening

The European Commission has suspended screening of the merger between major South Korean shipbuilders Hyundai Heavy Industries (HHI) and Daewoo Shipbuilding & Marine Engineering (DSME).

The EU has notified that companies were encouraged to delay merger notifications originally planned until further notice due to the complexities and disruptions caused by the coronavirus.

According to the EU directorate-general for competition, services are likely to face difficulties in collecting information from third parties.

The completion of the shipyard merger requires approvals from antitrust authorities of South Korea, the European Union, Japan, China, Singapore and Kazakhstan.

In February, the Japanese government filed a petition at the World Trade Organization (WTO) questioning the legitimacy of the merger between HHI and DSME.

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Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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